Problem 6.16 (Basic acquisition) BAZ Ltd acquires a new motor vehicle for a cash consideration of $41 100 plus a trade-in allowance amounting to $20 000. The consideration comprises the base cost of the vehicle ($56 900), dealer delivery charges ($650), stamp duty ($2400), registration ($500) and insurance ($650). The trade-in allowance relates to an old vehicle that had an original cost of $35 000 and a current carrying amount of $25 000. The trade-in allowance represents the fair value of this vehicle. Required Prepare the journal entry to record the acquisition of the motor vehicle by BAZ Ltd.